Virtual Colonoscopy Market Forecast and Scope - 2031
The Virtual Colonoscopy Market is expected to register a CAGR of 6.8% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Type (CT scanners Colonoscopy, MRI scanners Colonoscopy). Futher, it is segmented based on End-user (Hospitals, Clinics). The global analysis is further broken-down at regional level and major countries. The report offers the value in USD for the above analysis and segments.
Purpose of the ReportThe report Virtual Colonoscopy Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Virtual Colonoscopy Market Segmentation
Type- CT scanners Colonoscopy
- MRI scanners Colonoscopy
- Hospitals
- Clinics
Strategic Insights
Virtual Colonoscopy Market Growth Drivers- Rising Awareness of Colorectal Cancer: Rising awareness of colorectal cancer and the need to screen early has created demand for virtual colonoscopy. Large-scale educational programs, such as non-invasive screening for the condition, help increase the demand for these screening services.
- Technological Advancement in Devices: Continuous technological developments improve the image quality and accuracy of virtual colonoscopy. New technologies-3D imaging and artificial intelligence-and improve the analysis phase, making this non-invasive method appealing to patients and healthcare providers alike.
- Cost-effectiveness: It is more cost-effective than traditional colonoscopy. Since the associated risks are lower, and recovery time takes a lesser number of hours, this method appeals to more health care providers, meaning patients and health insurance companies also find it appealing.
- Personalized Screening Protocols: As precision medicine catches on, in the future, personalized screening protocols for colorectal cancer will emerge. Virtual colonoscopy will become more risk-factor-specific to better optimize the screening procedure to send the appropriate patients directly to the best screening approach.
- Improved Emphasis on Patient Comfort: There is growing importance to the patient experience. Thus, virtual colonoscopy will develop to concentrate more on comfort. Innovations aimed at mitigating discomfort during the procedure are likely to increase patient acceptance and adherence to the recommendations of screening.
- AI and Machine Learning Implementation: Adding artificial intelligence and machine learning is expected to make virtual colonoscopy advance image analysis and diagnostic accuracy. Such technologies will help radiologists diagnose abnormalities more efficiently and, by extension, enhance outcomes from the interventions much.
- Education and Training Programs: Comprehensive education and training programs for healthcare professionals on virtual colonoscopy will facilitate its adoption. Better skills in practitioners will lead to better patient care and more successful implementation of this technology in clinical practice.
- Collaborations and Partnerships: Strategic partnerships between technology companies and healthcare providers shall improve the capability of virtual colonoscopy. Collaboration in both research, development, and marketing shall enhance innovativeness and expand the range of virtual colonoscopy services.
- Regulatory support and reimbursement policies: The increase in favorable regulations and positive reimbursement policies will improve the financial feasibility of virtual colonoscopy. With the increasing coverage from the different insurance companies, this innovative method of screening will prove more viable for many patients, thus boosting the market.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Virtual Colonoscopy Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Virtual Colonoscopy Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The major factors driving the virtual colonoscopy market are:
1. Rising Awareness of Colorectal Cancer.
2. Technological Advancement in Devices.
The virtual colonoscopy market is expected to grow at a CAGR of 6.8%.
North America region accounts for highest revenue share in virtual colonoscopy market.
The final report will duly include market size and projection estimates for all the segments from 2021 to 2031, along with a revenue share and compound annual growth rate (%) for the regional/country-wise market wherein 2021-2022 are the historic years, 2023 is considered to be the base year, and the forecast will be provided till 2031, along with CAGR (%).
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023 - 2031).
Abbott Laboratories, Boston Scientific, and Exact Sciences Corporation are the major companies operating in the virtual colonoscopy market.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Virtual Colonoscopy Market - By Type
1.3.2 Virtual Colonoscopy Market - By End-user
1.3.3 Virtual Colonoscopy Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. VIRTUAL COLONOSCOPY MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. VIRTUAL COLONOSCOPY MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. VIRTUAL COLONOSCOPY MARKET - GLOBAL MARKET ANALYSIS
6.1. VIRTUAL COLONOSCOPY - GLOBAL MARKET OVERVIEW
6.2. VIRTUAL COLONOSCOPY - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. VIRTUAL COLONOSCOPY MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. CT SCANNERS COLONOSCOPY AND MRI SCANNERS COLONOSCOPY.
7.3.1. Overview
7.3.2. CT scanners Colonoscopy and MRI scanners Colonoscopy. Market Forecast and Analysis
8. VIRTUAL COLONOSCOPY MARKET - REVENUE AND FORECASTS TO 2028 - END-USER
8.1. OVERVIEW
8.2. END-USER MARKET FORECASTS AND ANALYSIS
8.3. HOSPITALS
8.3.1. Overview
8.3.2. Hospitals Market Forecast and Analysis
8.4. AND CLINICS
8.4.1. Overview
8.4.2. and Clinics Market Forecast and Analysis
9. VIRTUAL COLONOSCOPY MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Virtual Colonoscopy Market Overview
9.1.2 North America Virtual Colonoscopy Market Forecasts and Analysis
9.1.3 North America Virtual Colonoscopy Market Forecasts and Analysis - By Type
9.1.4 North America Virtual Colonoscopy Market Forecasts and Analysis - By End-user
9.1.5 North America Virtual Colonoscopy Market Forecasts and Analysis - By Countries
9.1.5.1 United States Virtual Colonoscopy Market
9.1.5.1.1 United States Virtual Colonoscopy Market by Type
9.1.5.1.2 United States Virtual Colonoscopy Market by End-user
9.1.5.2 Canada Virtual Colonoscopy Market
9.1.5.2.1 Canada Virtual Colonoscopy Market by Type
9.1.5.2.2 Canada Virtual Colonoscopy Market by End-user
9.1.5.3 Mexico Virtual Colonoscopy Market
9.1.5.3.1 Mexico Virtual Colonoscopy Market by Type
9.1.5.3.2 Mexico Virtual Colonoscopy Market by End-user
9.2. EUROPE
9.2.1 Europe Virtual Colonoscopy Market Overview
9.2.2 Europe Virtual Colonoscopy Market Forecasts and Analysis
9.2.3 Europe Virtual Colonoscopy Market Forecasts and Analysis - By Type
9.2.4 Europe Virtual Colonoscopy Market Forecasts and Analysis - By End-user
9.2.5 Europe Virtual Colonoscopy Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Virtual Colonoscopy Market
9.2.5.1.1 Germany Virtual Colonoscopy Market by Type
9.2.5.1.2 Germany Virtual Colonoscopy Market by End-user
9.2.5.2 France Virtual Colonoscopy Market
9.2.5.2.1 France Virtual Colonoscopy Market by Type
9.2.5.2.2 France Virtual Colonoscopy Market by End-user
9.2.5.3 Italy Virtual Colonoscopy Market
9.2.5.3.1 Italy Virtual Colonoscopy Market by Type
9.2.5.3.2 Italy Virtual Colonoscopy Market by End-user
9.2.5.4 United Kingdom Virtual Colonoscopy Market
9.2.5.4.1 United Kingdom Virtual Colonoscopy Market by Type
9.2.5.4.2 United Kingdom Virtual Colonoscopy Market by End-user
9.2.5.5 Russia Virtual Colonoscopy Market
9.2.5.5.1 Russia Virtual Colonoscopy Market by Type
9.2.5.5.2 Russia Virtual Colonoscopy Market by End-user
9.2.5.6 Rest of Europe Virtual Colonoscopy Market
9.2.5.6.1 Rest of Europe Virtual Colonoscopy Market by Type
9.2.5.6.2 Rest of Europe Virtual Colonoscopy Market by End-user
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Virtual Colonoscopy Market Overview
9.3.2 Asia-Pacific Virtual Colonoscopy Market Forecasts and Analysis
9.3.3 Asia-Pacific Virtual Colonoscopy Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Virtual Colonoscopy Market Forecasts and Analysis - By End-user
9.3.5 Asia-Pacific Virtual Colonoscopy Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Virtual Colonoscopy Market
9.3.5.1.1 Australia Virtual Colonoscopy Market by Type
9.3.5.1.2 Australia Virtual Colonoscopy Market by End-user
9.3.5.2 China Virtual Colonoscopy Market
9.3.5.2.1 China Virtual Colonoscopy Market by Type
9.3.5.2.2 China Virtual Colonoscopy Market by End-user
9.3.5.3 India Virtual Colonoscopy Market
9.3.5.3.1 India Virtual Colonoscopy Market by Type
9.3.5.3.2 India Virtual Colonoscopy Market by End-user
9.3.5.4 Japan Virtual Colonoscopy Market
9.3.5.4.1 Japan Virtual Colonoscopy Market by Type
9.3.5.4.2 Japan Virtual Colonoscopy Market by End-user
9.3.5.5 South Korea Virtual Colonoscopy Market
9.3.5.5.1 South Korea Virtual Colonoscopy Market by Type
9.3.5.5.2 South Korea Virtual Colonoscopy Market by End-user
9.3.5.6 Rest of Asia-Pacific Virtual Colonoscopy Market
9.3.5.6.1 Rest of Asia-Pacific Virtual Colonoscopy Market by Type
9.3.5.6.2 Rest of Asia-Pacific Virtual Colonoscopy Market by End-user
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Virtual Colonoscopy Market Overview
9.4.2 Middle East and Africa Virtual Colonoscopy Market Forecasts and Analysis
9.4.3 Middle East and Africa Virtual Colonoscopy Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Virtual Colonoscopy Market Forecasts and Analysis - By End-user
9.4.5 Middle East and Africa Virtual Colonoscopy Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Virtual Colonoscopy Market
9.4.5.1.1 South Africa Virtual Colonoscopy Market by Type
9.4.5.1.2 South Africa Virtual Colonoscopy Market by End-user
9.4.5.2 Saudi Arabia Virtual Colonoscopy Market
9.4.5.2.1 Saudi Arabia Virtual Colonoscopy Market by Type
9.4.5.2.2 Saudi Arabia Virtual Colonoscopy Market by End-user
9.4.5.3 U.A.E Virtual Colonoscopy Market
9.4.5.3.1 U.A.E Virtual Colonoscopy Market by Type
9.4.5.3.2 U.A.E Virtual Colonoscopy Market by End-user
9.4.5.4 Rest of Middle East and Africa Virtual Colonoscopy Market
9.4.5.4.1 Rest of Middle East and Africa Virtual Colonoscopy Market by Type
9.4.5.4.2 Rest of Middle East and Africa Virtual Colonoscopy Market by End-user
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Virtual Colonoscopy Market Overview
9.5.2 South and Central America Virtual Colonoscopy Market Forecasts and Analysis
9.5.3 South and Central America Virtual Colonoscopy Market Forecasts and Analysis - By Type
9.5.4 South and Central America Virtual Colonoscopy Market Forecasts and Analysis - By End-user
9.5.5 South and Central America Virtual Colonoscopy Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Virtual Colonoscopy Market
9.5.5.1.1 Brazil Virtual Colonoscopy Market by Type
9.5.5.1.2 Brazil Virtual Colonoscopy Market by End-user
9.5.5.2 Argentina Virtual Colonoscopy Market
9.5.5.2.1 Argentina Virtual Colonoscopy Market by Type
9.5.5.2.2 Argentina Virtual Colonoscopy Market by End-user
9.5.5.3 Rest of South and Central America Virtual Colonoscopy Market
9.5.5.3.1 Rest of South and Central America Virtual Colonoscopy Market by Type
9.5.5.3.2 Rest of South and Central America Virtual Colonoscopy Market by End-user
10. IMPACT OF COVID-19 PANDEMIC ON GLOBAL VIRTUAL COLONOSCOPY MARKET
10.1 North America
10.2 Europe
10.3 Asia-Pacific
10.4 Middle East and Africa
10.5 South and Central America
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. VIRTUAL COLONOSCOPY MARKET, KEY COMPANY PROFILES
12.1. ABBOTT LABORATORIES
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. BOSTON SCIENTIFIC
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. EXACT SCIENCES CORPORATION
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. SIEMENS HEALTHCARE PRIVATE LIMITED
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. AVANTIS MEDICAL SYSTEMS
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. CLINICAL GENOMICS TECHNOLOGIES PVT.LTD.
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. SYSMEX CORPORATION
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. NOVIGENIX SA
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. OLYMPUS CORPORATION
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. GETINGE GROUP
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. Abbott Laboratories
2. Boston Scientific
3. Exact Sciences Corporation
4. Siemens Healthcare Private Limited
5. Avantis Medical Systems
6. Clinical Genomics Technologies Pvt Ltd
7. Sysmex Corporation
8. Novigenix SA
9. Olympus Corporation
10. Getinge group
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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